C201 BUSINESS ACUMEN QUESTIONS & ANSWERS
What is Management? - Answers -Management is the process of achieving
Organizational objectives through people and other resources. The Manager's job is to
combine Human and Technical resources in the best way possible to achieve the
company's goals.
How do the jobs of top managers, middle managers, and supervisory managers differ? -
Answers -Top managers design long term plans, set a direction for their organization
and inspire all employees to achieve the company's vision. Middle managers focus on
the specific mission and operations, products, or customers. They develop procedures
to implement the company's strategic plans. Supervisory interact directly with non-
management employees, who produce and sell the companies goods and services.
They are responsible for implementing the plans developed by middle managers and
motivating workers to accomplish daily, weekly, and monthly goals.
What is the relationship between the managers planning and controlling functions? -
Answers -Controlling assess the success of the planning function. Controlling also
produces feedback for the next round of planning.
What is meant by a vision for the company? - Answers -A vision serves as a target for
the company's actions, helping direct the company towards opportunities and
differentiating it from its competitors.
Why is it important for a top executive to set high ethical standards? - Answers -High
ethical standards often result in a stable workforce, job satisfaction, and customer
loyalty.
Outline the planning process. - Answers -Some plans are very broad and long range,
focusing on key organizational objectives; others are more detailed and specify how
particular objectives will be achieved. From the mission statement to objectives to
specific plans, each phase must fit into comprehensive planning framework.
Describe the purpose of tactical planning. - Answers -The purpose of tactical planning
is to determine which short-term activities should be implemented to accomplish the
companies overall strategy.
Compare the kinds of plans made by top managers and middle managers. - Answers -
Top managers focus on long-range, strategic plans. In contrast, middle-level managers
focus on short term tactical planning.
Identify the styles of leadership as they appear along a continuum of greater or lesser
employee participation. - Answers -One end of the continuum Autocratic leaders
, makes decisions without consulting the employees. In the middle democratic leaders
ask for suggestions and want participation. At the end is free-rein which leaders leave
most of the decisions to the employees.
What is the relationship between leadership style and corporate culture? - Answers -
The best leadership style to adopt often depends on the organizations corporate culture
and its system of principals, beliefs, and values. Managerial philosophies,
communications, networks, and workplace environment, and practices all influence
culture.
How do managers reinforce corporate culture? - Answers -Managers use symbols,
rituals, ceremonies, and stories to reinforce corporate culture.
What is the purpose of an organizational chart? - Answers -A visual representation of a
company's structure that illustrates the job positions and functions.
What are the 5 major forms of departmentalization? - Answers -Product: different
goods and services an organization offers. Geographical: Units by regions. Customer:
Units by different types of customers. Functional: Units by business activities like
Marketing or Finance, etc. Process: Unit by steps or Work processes it takes to
complete production or provide a service.
What does management mean? - Answers -Or span of control- Numbers of employees
the manager supervises.
What is mass production? - Answers -Mass production is Manufacturing large
quantities of products through effective combinations of both employees with
specialized skills, mechanizations, and standardization.
What is the difference between flexible production and customer-driven production? -
Answers -Flexible production is using tech to receive and fulfill orders and skilled
people to carry out tasks associated with a specific order. Customer driven production
evaluates buyer demands to make the connection between products manufactured and
products purchased.
What are the 2 main production systems? - Answers -Two main production systems
are Analytic and Synthetic
What are the 2 time-related production processes? - Answers -the 2 time related
production processes are the continuous production process and the intermittent
production process.
List some of the reasons businesses invest in robots. - Answers -Businesses use
robots to free people from boring sometimes dangerous assignments and perform tasks
that require repeated manipulation and materials, and tools.
What is Management? - Answers -Management is the process of achieving
Organizational objectives through people and other resources. The Manager's job is to
combine Human and Technical resources in the best way possible to achieve the
company's goals.
How do the jobs of top managers, middle managers, and supervisory managers differ? -
Answers -Top managers design long term plans, set a direction for their organization
and inspire all employees to achieve the company's vision. Middle managers focus on
the specific mission and operations, products, or customers. They develop procedures
to implement the company's strategic plans. Supervisory interact directly with non-
management employees, who produce and sell the companies goods and services.
They are responsible for implementing the plans developed by middle managers and
motivating workers to accomplish daily, weekly, and monthly goals.
What is the relationship between the managers planning and controlling functions? -
Answers -Controlling assess the success of the planning function. Controlling also
produces feedback for the next round of planning.
What is meant by a vision for the company? - Answers -A vision serves as a target for
the company's actions, helping direct the company towards opportunities and
differentiating it from its competitors.
Why is it important for a top executive to set high ethical standards? - Answers -High
ethical standards often result in a stable workforce, job satisfaction, and customer
loyalty.
Outline the planning process. - Answers -Some plans are very broad and long range,
focusing on key organizational objectives; others are more detailed and specify how
particular objectives will be achieved. From the mission statement to objectives to
specific plans, each phase must fit into comprehensive planning framework.
Describe the purpose of tactical planning. - Answers -The purpose of tactical planning
is to determine which short-term activities should be implemented to accomplish the
companies overall strategy.
Compare the kinds of plans made by top managers and middle managers. - Answers -
Top managers focus on long-range, strategic plans. In contrast, middle-level managers
focus on short term tactical planning.
Identify the styles of leadership as they appear along a continuum of greater or lesser
employee participation. - Answers -One end of the continuum Autocratic leaders
, makes decisions without consulting the employees. In the middle democratic leaders
ask for suggestions and want participation. At the end is free-rein which leaders leave
most of the decisions to the employees.
What is the relationship between leadership style and corporate culture? - Answers -
The best leadership style to adopt often depends on the organizations corporate culture
and its system of principals, beliefs, and values. Managerial philosophies,
communications, networks, and workplace environment, and practices all influence
culture.
How do managers reinforce corporate culture? - Answers -Managers use symbols,
rituals, ceremonies, and stories to reinforce corporate culture.
What is the purpose of an organizational chart? - Answers -A visual representation of a
company's structure that illustrates the job positions and functions.
What are the 5 major forms of departmentalization? - Answers -Product: different
goods and services an organization offers. Geographical: Units by regions. Customer:
Units by different types of customers. Functional: Units by business activities like
Marketing or Finance, etc. Process: Unit by steps or Work processes it takes to
complete production or provide a service.
What does management mean? - Answers -Or span of control- Numbers of employees
the manager supervises.
What is mass production? - Answers -Mass production is Manufacturing large
quantities of products through effective combinations of both employees with
specialized skills, mechanizations, and standardization.
What is the difference between flexible production and customer-driven production? -
Answers -Flexible production is using tech to receive and fulfill orders and skilled
people to carry out tasks associated with a specific order. Customer driven production
evaluates buyer demands to make the connection between products manufactured and
products purchased.
What are the 2 main production systems? - Answers -Two main production systems
are Analytic and Synthetic
What are the 2 time-related production processes? - Answers -the 2 time related
production processes are the continuous production process and the intermittent
production process.
List some of the reasons businesses invest in robots. - Answers -Businesses use
robots to free people from boring sometimes dangerous assignments and perform tasks
that require repeated manipulation and materials, and tools.
